Shifting Economic Powers and Currency Dynamics

This week, Mark Leonard is joined by Henry Farrell, ECFR council member and professor at John Hopkins University, to discuss Henry’s new book “Underground Economy”, co-authored by Abraham Newman. In their take, globalisation has brought interdependence—which is being weaponised as a tool for strategic advantage. As the main facilitator of global interdependence, America exploits countries’ embeddedness in the US-led global order and uses its financial position to its own strategic advantage.  

But what are the implications of America weaponising this interdependence? How can key actors exercise power in this hyperconnected system? And what challenges and opportunities does Europe face in this competitive and interconnected environment?  

Bookshelf: 

Underground Empire: How America Weaponized the World Economy- Henry Farrell and Abe Newman 

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